Workplace Safety & Prevention Services
Notes to Financial Statements
December 31, 2013
23. rELAtED PArty trANSACtIoNS
The Association subleases its premises from Centre for Health & Safety Innovation (CHSI) and pays their proportionate
rental area share of the operating costs. Any surplus (deficiency) in CHSI will be shared by the members based on their
proportionate rentable areas (see also Note 6). During the year, CHSI charged rental and operating costs of $2,764,090
(2012 – $2,777,763). These transactions are in the normal course of business, and are measured at the exchange amount,
which is the amount of consideration established and agreed to by the related parties, and approximates the arm's length
equivalent value.
Minimum annual rental lease payments are as follows:
year Amount
2014
$ 1,334,000
2015
1,347,000
2016
1,347,000
2017
1,347,000
2018
1,112,000
Thereafter
3,374,000
$ 9,861,000
Amounts not specifically disclosed on the balance sheet:
2013 2012
Trade accounts receivable
$ 6,732 $ 2,900
Trade accounts payable
$ 2,422 $ 9,167
During the year, the Association charged CHSI bookkeeping and information technology service fees of $34,800 (2012
– $34,800). This amount is measured at the exchange amount (the amount of consideration agreed to by the related
parties).
37
2013
annual
report
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Workplace
Safety
&
Prevention
Services
